The rating is the first Auswide Bank has had from Fitch, after it withdrew its last rating from Standard & Poor’s (which was a BBB-/A-3 rating with a stable outlook).
Managing director Martin Barrett said that the Fitch rating was a testament to the strength of the bank, including its “robust capital, strong risk management processes and sound asset quality”.
The bank added that the dual rating, which includes Moody’s rating of Baa2/P2 (stable outlook), provides a “strong platform to maintain growth in the bank’s residential, business and consumer finance lending”.
[Related: S&P downgrades bank’s outlook]
Annie Kane is the editor of Mortgage Business.
As well as writing news and features on the Australian mortgage market, financial regulation, fintechs and the wider lending market – Annie is also a regular contributor to the Mortgage Business Uncut podcast.
Before joining Momentum Media in 2016, Annie wrote for a range of business and consumer titles, including The Guardian (Australia), BBC Music Magazine, Elle (Australia), BBC Countryfile, BBC Homes & Antiques, and Resource magazine.